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Economy Minister Optimistic For Businesses, BCRP Decision

PERU
  • Speaking to Canal N, Peruvian Economy and Finance Minister Alex Contreras noted that Peru had confronted a series of challenges, including social upheavals, Cyclone Yaku, the Coastal El Nino weather phenomenon, drought issues and lingering repercussions of the 2022 fertiliser crisis.
  • Contreras highlighted a positive outlook for businesses in the coming six to 12 months, indicating that the country's economy is gradually rebounding, following the aforementioned setbacks endured in the first half of 2023.
  • The majority of surveyed analysts are expecting the BCRP to keep the reference rate unchanged on Thursday at 7.75%. However, two analyst previews seen by MNI are calling for the initiation of policy easing as soon as this week. Full preview with analyst views here: https://roar-assets-auto.rbl.ms/files/55182/MNI%20Peru%20Central%20Bank%20Preview%20-%20August%202023.pdf

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